International Power Restructures A$742m Hazelwood Debt

(London - 27 January 2010) International Power plc announces that it has completed a restructuring of the total existing non-recourse debt of A$742 million (£415 million) at the 1,675MW coal-fired Hazelwood power station and mine, located in Victoria, Australia.

The restructured facility merges the previous two-tranche structure (A$445 million Tranche B and A$297 million Tranche A) into a single tranche facility with a maturity date of 30 June 2012 and a margin of 400 basis points.

Notes to Editors:

The banks providing the restructured facility are Australia and New Zealand Banking Group, Bank of America, Bank of Tokyo Misubishi UFJ Ltd, BankWest, BNP Paribas, BOS International, Calyon Australia Limited, Credit Industrial and Commercial, DBS Bank Ltd, Dexia Credit Local, Fortis Bank SA, Norddeutsche Landesbank Girozentrale, The Royal Bank of Scotland plc, Societe Generale, United Overseas Bank Limited, West LB AG, Westpac Banking Corporation.

An exchange rate of £1:A$1.79 has been applied in this announcement.

International Power owns 91.8% of Hazelwood.

For further information please contact: 

International Power

About International Power

International Power plc is a leading independent electricity generating company with 32,358MW gross (20,648MW net) in operation and 3,430MW gross (1,128MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, Canada, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website:  www.ipplc.com